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Economy in Brief
Kansas City Fed Manufacturing Index Dips in May But Remains Strong
The Kansas City Fed reported that its manufacturing sector business activity index declined to 23 in May...
U.S. Pending Home Sales Decline Sharply in April
Home buying remains under pressure...
U.S. Unemployment Claims Eased Slightly in the Latest Week
Initial claims for unemployment insurance filed in the week ended May 21 were 210,000 (-52.4% y/y)...
Italian Confidence Makes Small Bounce in May; Is It a Signal or Is It Noise?
Italian business and consumer confidence indexes both are substantially lower in May...
U.S. Durable Goods Orders Increase Modestly in April
Manufacturers' new orders for durable goods increased 0.4% during April (12.2% y/y)...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
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The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
by Tom Moeller September 2, 2015
New orders in the manufacturing sector improved 0.4% during July (-15.2% y/y) following a 2.2% June jump. A 0.7% rise was expected in the Action Economics Forecast Survey. Durable goods orders rose 2.2% (-20.2% y/y) following 4.1% increase. These figures were little-changed from the advance release. Overall orders excluding the transportation sector altogether eased 0.6% (-7.4% y/y) after a 0.6% increase. Nondurable goods orders (which equal shipments) fell 1.3% (-10.0% y/y) following a 0.4% rise. The value of petroleum refinery shipments declined 7.8% (-32.1% y/y) after a 0.8% increase. Food products shipments improved 0.2% (-2.4% y/y) following six straight months of decline. Apparel shipments fell 0.4% (-1.8% y/y) and paper product shipments gained 0.5% (-2.7% y/y). Basic chemical shipments also improved 0.5% (-2.5% y/y). Shipments of durable goods increased 1.0% (-0.1% y/y) after a 0.9% rise.
Unfilled orders improved 0.2% (-0.6% y/y), following little change during June. Backlogs excluding the transportation sector eased 0.1% (-0.1% y/y). Unfilled orders of nondefense aircraft rose 0.4% (0.7% y/y).
Inventories in the factory sector slipped 0.1% (-0.6% y/y) following a 0.3% rise. Durable goods inventories eased 0.1% (+3.1% y/y). Computes & electronic product inventories gained 0.2% (4.7% y/y). Nondurable goods inventories moved 0.1% lower (-6.0% y/y) as petroleum refinery inventories declined 4.2% (-31.7% y/y). Food product inventories increased 1.3% (-1.0% y/y). Apparel inventories jumped 1.2% (12.4% y/y). Paper product inventories gained 0.1% (2.5% y/y). Basic chemical inventories improved 0.6% (-1.4% y/y).
The factory sector figures are available in Haver's USECON database. The expectations figure from the Action Economics Forecast Survey is available in AS1REPNA.
Factory Sector- NAICS Classification (%) | Jul | Jun | May | Y/Y | 2014 | 2013 | 2012 |
---|---|---|---|---|---|---|---|
New Orders | 0.4 | 2.2 | -1.1 | -15.2 | 3.4 | 2.2 | 4.4 |
Shipments | -0.2 | 0.6 | -0.2 | -5.5 | 2.5 | 2.1 | 4.4 |
Unfilled Orders | 0.2 | 0.0 | -0.5 | -0.6 | 11.4 | 6.4 | 7.5 |
Inventories | -0.1 | 0.3 | 0.1 | -0.6 | 2.4 | 1.7 | 3.8 |